With exploding energy prices, solar energy has never made more sense. Here are some facts about solar energy that may open your eyes to its value.

Facts About Solar Energy

The more you look at the facts surrounding solar energy, the more surprised you are. While solar energy is a much better power source for the environment, it now makes incredibly sense from an economic perspective. Enough hyperbole, let’s get to the facts.

* William Adams first discovered solar energy cells in 1876.
* In 1952, David Chaplin and other employees at Bell Labs discovered silicon made solar cells much more efficient.
* In the late 1950s, NASA started using solar cells as a power source in space.
* In 1983, 21 total megawatts of solar power producing cells were installed worldwide.
* By 2004, 927 megawatts of solar power producing cells were installed worldwide.
* Convert to solar energy and you can claim a tax credit of up to $2,000 on federal taxes. Unlike tax deductions, tax credits come off the tax you actually owe. If you prepare your tax returns and find you owe $10,000, the $2,000 would be deducted from the $10,000. A huge tax savings credit you should investigate.
* In 35 states, you are allowed to run the power produced by your solar energy system back into the utilities grid. Known as net metering, this allows you to sell your solar energy to the utility, more or less eliminating your electrical bill and saving you thousands of dollars over the years.
* With the “Million Solar Roofs Initiative”, the U.S. Department of Energy hopes to have one million solar power homes and buildings in the United States by 2010.
* Solar energy demand is growing at 25 percent a year, while utility energy demand is flat.
* The earth receives more energy from the sun than is used in the entire world in one year.
* Solar energy panels are 15 percent efficient at converting sunlight to energy. Plants are 3 percent efficient.
* Germany is the fastest growing solar market, followed by Japan. The U.S. is the third.
* Schools and colleges throughout the country are currently converting to solar energy as a way to reduce power costs.
* Homeowners qualifying for Fannie Mae, FHA and VHA mortgages can get benefits from lenders for going solar under the Energy Improvement Mortgage or Energy Efficient Mortgage Programs.
* Once installed, solar panel systems require no maintenance and should last 30 to 40 years.
* Solar panel systems come with 20 to 30 year warranties.



The facts about solar energy should open your eyes to the possibilities of saving some serious money. With tax credits from both federal and state governments, you can save on taxes. In many cases, your lender will even finance or rebate your mortgage to pay for a solar energy installation. On top of all that, you may be able to sell your solar energy back to the utility company and eliminate your electrical bill.

All and all, the facts about solar energy lead to one conclusion. You should do it!